Maintain revenue growth of 20% for FY14: IFGL Refractories

IFGL Refractories has posted an overall improvement in their financial performance with both the profit before tax and profit after tax increasing on consolidated as well as standalone basis. The company reported a consolidated PAT of around Rs 35 crores in the first half of FY14.

Speaking to CNBC-TV18, post Q2 results, Pradeep Bajoria, MD, IFGL Refractories is hopeful that the company will maintain the positive trend going forward though the profit may come in slightly lower in the second half of the year. The company also maintains its revenue growth of 20 percent for FY14, he adds.

Below is the verbatim transcript of Pradeep Bajoria's interview on CNBC-TV18 Q: Q2 was a good quarter for you all, what can we expect in the entire FY14?
A: We should be able to maintain this trend for the year. I do not see any issue but profit maybe a bit on the lower side because till Q2 we had the impact of consolidation and valuation of stock that may not come in the second half of the year. But the steel industry in the US and in Europe has been quite steady and we are hopeful that in India it will improve from now on, there are a lot of projects that are starting. Q: You said the profit may not be as large, if you could give us a bit of a number in terms of EPS estimate for the full year?
A: I am not in a position to give you earnings per share (EPS) number but in the first half, we have shown a profit after tax (PAT) of about Rs 35 crore. In that Rs 35 crore on consolidation, there is an impact of about Rs 7 crore. So that may not come in the rest of second half but apart from that we should be able to maintain this or do better. Q: In Q2 your consolidated revenues went up 20 percent, can we expect 20 percent growth in revenues for the full year and margins above the 10 percent?
A: I think on the revenue side, we should be able to maintain this strength.